The news of an actual physical island, meant specifically for crypto enthusiasts had confused some, alarmed some and given a good source for jokes and memes to others.

But now it seems that all those dreams of actually getting such an island might be getting dashed, since as per reports, the bid to buy an island for it has fallen through.

For those who are unaware, apparently, some people were trying to buy an entire Fijian island to build a paradise almost for people who are into the crypto industry. Given the extreme popularity of cryptocurrency, NFTs and more and more countries and brands actively taking part in it, it was only a matter of time before something so outlandish came about.

The topic has been much discussed since almost the start of this year with the crypto side of social media trying to figure out whether this was parody, scam or something actually genuine.

What Is Cryptoland?

Cryptoland as an actual project was first announced on 4th November 2021 through a press release where it was stated that the project aimed to purchase an existing Fiji island and host cryptocurrency enthusiasts there.

Started by Max Olivier and Helena Lopez along with a few other crypto-evangelists it was a much-discussed topic among the crypto Twitter community about how the 3D animated pitch posted online and the very island of such an island was just ridiculous.

The island supposed to be named Nananu-i-cake was going to be “an international hub for the community to come live, work and have fun and enjoy a first-class crypto lifestyle”, and “a complete ecosystem that represents the blooming crypto space” that was “a paradise made by crypto enthusiasts for crypto enthusiasts” as per the YouTube video.

There were 3 parts of the island planned out, them being Cryptoland Bay, Crypto Beach, House of Dao, along with also having a members-only Vladimir Club. The last two ones are tied into crypto references and inside jokes, the first being a reference to decentralised autonomous organisations that crypto enthusiasts are said to prefer as opposed to companies while the latter is about people who own 0.01% of any particular cryptocurrency.

However, since it first came out, people have not been as enthusiastic about the idea as the creators might have hoped. After it got some recognition some even said that it sounded similar to the disastrous 2017 Fyre Festival.

That one was also somewhat similar in that it was supposed to be an ultra-luxurious and expensive music festival on a private island in the Bahamas but due to several reasons performers backed out and the attendees were left stranded on the island with limited resources that eventually led to fights and disaster breaking out.

That is not all, there were also some other mishaps made on social media by the official page of Cryptoland when it replied “Mental maturity should be more than enough! ;)” to a tweet asking about the age of consent on the island.

The page later clarified that some of the people managing the page were not native English speakers and that is why they got confused with what was being asked while thinking that the question meant who could enter the island.

Post that, a Twitter thread by software engineer Molly White went viral even leading to her getting an email from the “Legal Department” of Cryptoland. As pointed out by sources however, the email was not signed off by any name of law firms or people that is usual when sending such cease and desist letters.

Apparently, while the YouTube video of the presentation has been deleted but it was uploaded to PeerTube an open-source and decentralized video sharing platform.

Read More: Watch: These Are The Fake Crypto Apps That You Should Stay Away From

The project instantly got mocked incessantly by netizens who found the entire idea absolutely ridiculous.

However, as per the latest news, a bid to buy a Fiji island for US $12 million has fallen through and the island is back on the market.

Rick Kermode, from Bayleys a New Zealand firm who is also the real estate agent of the island told Guardian Australia that “We’re telling people that it was under contract during the period of time that they had the contract but it has come back on the market.”

Image Credits: Google Images

Sources: The Guardian, Financial Times, News18

Find the blogger: @chirali_08

This post is tagged under: Cryptoland island, Fiji island, Cryptoland, Cryptoland controversy, Cryptoland scam, cryptocurrency island, cryptocurrency, nft, Fyre Festival

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